New Delhi [India], January 9 (ANI): The Enforcement Directorate (ED) has attached nine immovable properties worth Rs 75.16 crore in Haryana’s Ambala, Punjab’s Mohali and Uttar Pradesh’s Noida in connection with the fraud committed by Hacienda Projects Private Limited, its promoters and directors and others, the agency said on Thursday.
ED’s Lucknow Zonal Office attached these immovable properties which are in the form of agricultural land at Ambala and Mohali in the names of Three C Promoters and Developers Pvt Ltd and Three C Infratech Pvt Ltd; and Institutional and commercial Land at Noida in the name Hacienda Infosoftech Pvt Ltd and Challengerz Web Solution Pvt Ltd and under construction residential flats and commercial office space at Noida in the name of Acreage Properties Pvt Ltd under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in the case.
ED initiated investigation on the basis of directions of the High Court of Judicature of Allahabad in Writ petition no. 41110 of 2019 and on the basis of multiple FIRs registered by Economic Offences Wing (EOW) against Hacienda Projects Pvt Ltd (HPPL), its promotors and director, officials and others for diversion and siphoning off the hard-earned money of the investors and home buyers and ultimately not providing them the promised flats.
ED investigation revealed that the Lotus 300 project at Sector 107, Noida by HPPL was started on a land parcel of 67,941.45 square meters in 2010-11 and accordingly the Builder Buyer Agreements were executed.
“Due to the siphoning off of funds the project fell short of funds and could not get completed and the company was pushed into insolvency leaving the investors high and dry along with Noida authority whose dues were also not paid by HPPL,” said the agency in a statement.
Searches were conducted from September 17 to September 20 last year at various premises connected to the director and promoters of Three C Group, which led to the recovery of Proceeds of Crime (POC) in the form of cash, diamond and jewellery amounting to Rs 42 crore, incriminating documents and digital devices.
Further, ED said, the investigation has revealed that out of the funds siphoned off to Three C Universal Developers Pvt Ltd, most of the money has been advanced as unsecured loans to various other group companies including Three C Promoters and Developers Pvt Ltd, Three C Infratech Pvt Ltd, Hacienda Infosoftech Pvt Ltd, Challengerz Web Solution Pvt Ltd and Acreage Properties Pvt Ltd for acquiring and holding assets purchased out of the POC viz. the investors’ money siphoned off form HPPL which had been layered through the group companies of Three C Group and integrated into the form of immovable assets in Punjab and Noida.
Earlier in the matter, one Provisional Attachment Order (PAO) dated October 28 last year, was issued attaching properties worth Rs 23.13 crore in the form of agricultural land and industrial plots at Hoshiarpur, Fatehgarh Sahib and Mohali in Punjab in the name of Moonlight Propbuild Pvt Ltd and Elco Global LLP. This is the second provisional attachment order in this case and the total value of attached properties stands at Rs 98.29 crore in the case. (ANI)
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